Question
On 1 January 2021, HK Trading commenced a retail business, which buys and sells fuel. He started the business by purchasing 9013 liters of fuel.
On 1 January 2021, HK Trading commenced a retail business, which buys and sells fuel. He started the business by purchasing 9013 liters of fuel. The fuel was purchased at a cost of $4.3 per litre. During the year, all the fuel was sold for $8.8 per litre. By the end of the year, the cost of the fuel was $8.9 per litre.
Required What is the operating profit made during the period?
a. 63271.26 b. -901.30 c. 7120.27 d. 15141.84 e. 39206.55
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
